Freeport-McMoRan Inc (NYSE:FCX) shares reached a new 52-week high on Thursday . The company traded as high as $19.09 and last traded at $18.69, with a volume of 17299400 shares trading hands. The stock had previously closed at $18.67.

A number of research analysts recently weighed in on the stock. B. Riley restated a “neutral” rating on shares of Freeport-McMoRan in a research note on Wednesday, November 1st. Deutsche Bank cut shares of Freeport-McMoRan from a “hold” rating to a “sell” rating and set a $13.00 target price on the stock. in a research note on Tuesday, October 17th. ValuEngine upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. FBR & Co restated a “hold” rating and set a $12.00 target price on shares of Freeport-McMoRan in a research note on Thursday, October 26th. Finally, Royal Bank of Canada restated a “hold” rating and set a $17.00 target price on shares of Freeport-McMoRan in a research note on Tuesday, December 5th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Freeport-McMoRan presently has a consensus rating of “Hold” and a consensus target price of $15.64.

The stock has a market cap of $27,050.00, a P/E ratio of 25.96 and a beta of 2.54. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.02 and a quick ratio of 1.32.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Freeport-McMoRan had a net margin of 6.20% and a return on equity of 13.35%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 EPS. research analysts forecast that Freeport-McMoRan Inc will post 1.09 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. IHT Wealth Management LLC increased its holdings in shares of Freeport-McMoRan by 27.1% in the 2nd quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock worth $843,000 after buying an additional 375 shares during the last quarter. Guardian Capital Advisors LP increased its holdings in shares of Freeport-McMoRan by 1.2% in the 2nd quarter. Guardian Capital Advisors LP now owns 34,254 shares of the natural resource company’s stock worth $427,000 after buying an additional 400 shares during the last quarter. Argent Trust Co increased its holdings in shares of Freeport-McMoRan by 4.4% in the 2nd quarter. Argent Trust Co now owns 11,818 shares of the natural resource company’s stock worth $142,000 after buying an additional 500 shares during the last quarter. Freestone Capital Holdings LLC increased its holdings in shares of Freeport-McMoRan by 1.1% in the 2nd quarter. Freestone Capital Holdings LLC now owns 47,314 shares of the natural resource company’s stock worth $568,000 after buying an additional 507 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Freeport-McMoRan by 1.3% in the 2nd quarter. Nordea Investment Management AB now owns 57,003 shares of the natural resource company’s stock worth $685,000 after buying an additional 746 shares during the last quarter. Institutional investors and hedge funds own 68.07% of the company’s stock.

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Freeport-McMoRan Company Profile

Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.

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